model 9 selling an article & interchanging its values Section-Wise Topic Notes With Detailed Explanation And Example Questions

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The following question based on profit & loss topic of quantitative aptitude

Questions : A radio is sold for Rs.990 at a profit of 10%. What would have been the actual profit or loss on it, had it been sold for Rs. 890 ?

(a) Rs.10 loss

(b) Rs.90 loss

(c) Rs.90 profit

(d) Rs.10 profit

The correct answers to the above question in:

Answer: (a)

C.P. of radio = $100/110 × 990$ = Rs.900

Loss = 900 - 890 = Rs.10

Using Rule 3,

C.P. = S.P.$(100/{100 + Profit%})$

= $990(100/{100 + 10}) = 99000/110$

C.P. = 900

Loss = C.P. - S.P.

= 900 - 890 = Rs.10

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Read more selling article changing values Based Quantitative Aptitude Questions and Answers

Question : 1

An article was sold at a profit of 12%. If the cost price would be 10% less and selling price would be Rs.5.75 more, there would be profit of 30%. Then at what price it should be sold to make a profit of 20% ?

a) Rs.115

b) Rs.138

c) Rs.215

d) Rs.120

Answer: (b)

C.P. of article = Rs.x

S.P. = ${112x}/100$

New C.P. = ${9x}/10$

S.P. = ${9x}/10 × 130/100 = {117x}/100$

${117x}/100 - {112x}/100$ = 5.75

${5x}/100$ = 5.75

$x = {5.75 × 100}/5$ = Rs.115

Required S.P. = ${115 × 120}/100$ = Rs.138

Question : 2

By selling 80 ball pens for Rs.140 a retailer loses 30%. How many ball pens should he sell for Rs.104 so as to make a profit of 30%?

a) 32

b) 48

c) 42

d) 52

Answer: (a)

Using Rule 3,

C.P. of 80 ball pens = $140 × 100/70$ = Rs.200

For a gain of 30%

S.P. = ${200 × 130}/100$ = Rs.260

Since, Rs.260 = 80 ball pens

Rs.104 = $80/260 × 104$ = 32

Question : 3

By selling an article for Rs.665, there is a loss of 5%. In order to make a profit of 12%, the selling price of the article must be

a) Rs.812

b) Rs.790

c) Rs.784

d) Rs.800

Answer: (c)

Using Rule 3,

CP of the article $100/{100 - loss%}$ × S.P.

= Rs.$(100/95 × 665)$ = Rs.700

For the gain of 12%

SP of the article = 112% of 700

= ${700 × 112}/100$ = Rs.784

Question : 4

By selling an article for Rs.700 a man lost 30%. At what price should he have sold it to gain 30% ?

a) Rs.910

b) Rs.1232

c) Rs.1300

d) Rs.1200

Answer: (c)

Using Rule 3,

C.P. of article = $(100/{100 - Loss%})$ × S.P.

= $100/{100 - 30} × 700$ = Rs.1000

S.P. for a profit of 30%

= 1000 × $130/100$ = Rs.1300

Question : 5

By selling an article for Rs.480 a person lost 20%. For what should he sell it to make a profit of 20%?

a) Rs.800

b) Rs.720

c) Rs.680

d) Rs.760

Answer: (b)

According to question,

S.P. = Rs.480, Loss% = 20%

Cost price = $100/80 × 480$ = Rs.200

Required price = $120/100 × 600$ = Rs.720

Question : 6

If an article is sold for Rs.178 at a loss of 11%, what should be its selling price in order to earn a profit of 11%?

a) Rs.222.50

b) Rs.435

c) Rs.222

d) Rs.267

Answer: (c)

89% of the cost price = Rs.178

111% of the cost price

= Rs.$178/89$ ×111= Rs.222

Using Rule 3,
If an object is sold on r% Profit.

then,S.P. = C.P$[{100 + \text"Profit%"}/100]$
or
C.P. = S.P$[100/{100 + \text"Profit%"}]$

Similarly, If an object is sold on r% loss, then

S.P. = C.P.$[{100 - \text"Loss%"}/100]$
or
C.P. = S.P$[100/{100 - \text"Loss%"}]$

C.P. = $178 × 100/{100 - 11} = 17800/89$

C.P. = 200

S.P. = $200 × ({100 + 11}/100)$ = Rs.222

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GET profit & loss PRACTICE TEST EXERCISES

Model 1 Basic Concepts of C.P and S.P

model 2 gain lost percentage

model 3 gain/loss % with C.P/S.P

model 4 sold & brought

model 5 marked price

model 6 sold in circular path

model 7 sold at loss

model 8 two article sold in different rates

model 9 selling an article & interchanging its values

model 10 reduced/increased price of an article

model 11 ratio & partnership
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